RE: "They'll just raise prices if thy raise the minimum wage."
April 14, 2014 at 1:18 pm
(This post was last modified: April 14, 2014 at 1:31 pm by Fidel_Castronaut.)
(April 14, 2014 at 1:14 pm)Heywood Wrote:(April 14, 2014 at 12:40 pm)Fidel_Castronaut Wrote: Lack of resources.
Not a good answer. To negotiate, all you need is something the other guys wants(your labor), a mouth, and a brain.
I'll help you by providing a better answer.
If individuals are incapable of negotiating a fair wage it is because labor rates are set by the market....and not individuals.
![[Image: Common_Cathode_11b.png]](https://images.weserv.nl/?url=www.tubecad.com%2F2005%2FApril%2F9%2FCommon_Cathode_11b.png)
Parsimony in economics arguments always make me laugh, so thanks for that. I'd probably give it a 3rd, for effort. No, lack of resources is very much a solid answer, regardless of whether you want to assess the (in)flexibility of labour markets.
Also HW, FWIW, I do agree with a lot of issues you raise regarding minimum wage legislation. I don't live in the US and I'm not (overly) familiar with the economic systems at play there, but in the Uk there have been mixed results, some positive some negative.